Munich Re aim for €2.5 billion profit in 2012


German reinsurer Munich Re has announced that it is aiming for a profit of €2.5 billion in 2012.

The company’s chief executive officer, Nikolaus von Bomhard, said that he is optimistic about the year ahead.

“Our global presence enables us to take specific advantage of business opportunities in attractive markets and segments,” he said.

The company also recently reported a nine percent rise in gross written premiums, and a net profit of €712 million, for 2011.

Return on equity for the group was down from 10.4 percent in 2010 to 3.3 percent in 2011, but the group’s equity actually rose from €23 billion in 2010 to €23.3 billion in 2011.

Munich Re, Germany

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